Why I Love NFT's

By The Lynx | Crypto Lynx | 4 Oct 2021


I am hooked on NFT's. I am having a blast getting involved in the NFT community both as a creator and a collector.

When I was in 4th grade, I gave this kid on my school bus a bunch of my baseball cards. I don't know why. Perhaps it was just to be friendly. I didn't care that much about baseball. He was a big collector (by elementary school standards) and was super excited to get them. I probably had a Pete Rose or Daryl Strawberry rookie card or something. I will never know.

So why am I enjoying the NFT world so much? Here is why:

First of all, my motivation in getting into NFTs was to create and make money. I have made some. However, I quickly realized that this is a long and hard process. Then I discovered that the quickest way to grow your portfolio with NFTs as a NOOB is to collect and resell.

Then I discovered that by getting involved in communities on social media that I could land free NFT’s. Many NFT creators will give away free NFTs to help grow their following and excitement for their collections. Most of these collections will not make it really big, but most of them will grow at least some. Landing a free NFT from anyone is exciting.

Then you hear those stories about people who started with almost nothing and landed a free Crypto Punks or Bored Ape and later became quite wealthy in the NFT trade. Individual NFTs from these two collections regularly sell for six figures worth of Ether on Open Sea--multiple times a day.

The industry continues to grow by leaps and bounds and more people are entering the market every day. It is not just a trend or a fad. However, I do think that it is possible that the bubble will burst at the top. Perhaps it is just me and my modest budget, but I cannot see myself every paying 50 Ether for an NFT.

On the other hand, I have been buying up two categories of NFTs:

  1. Established NFT collections that are still under 1 Ether in value. I look for ones that are between .01 and .1 Ether. Sometimes you find one from a collection that trends high, but someone is trying to sell quickly and not as worried about profit. I also look for ones that are listed under Polygon to save on gas fees. At first, I actually paid more in gas fees for some of the transactions that the actual NFT itself. Now Open Sea is offering Polygon as an option to buy NFTs. It’s a bit more trouble to set up, but well worth it. They even have a credit card option for some NFTs.
  2. Really inexpensive NFTs from newer collections. Successful collections will have a plan and stick to it. They have a limited number of NFTs being produced, which increases the rarity value. If I buy 25 really cheap but cool NFT’s, chances are 2 or 3, maybe more, will dramatically increase in value. I hodl them like I would coins, and wait and see.
  3. Get involved in an NFT community and get free drops. These are the best of all. You follow or friend someone. Sometimes you retweet or “heart” several pieces on their collection page. You might win a free NFT. You may also find that you really like what this collection is about and you end up buying one.

For those who just don’t get it, I explain it like this: Compare it to a collection of baseball cards. There are some cards that will have more value than others. Some will increase in value over time. Some may become essentially without value. However, if you happen to get a rookie card and that athlete goes on to have a long successful career, you may end up with a small fortune for that little piece of printed cardboard.

Now here is where it gets to be far superior to collecting a baseball card: Baseball cards can be counterfeited. They can be lost or stolen. Minting an NFT on the blockchain ensures its unique status. It cannot be copied. Each piece is uniquely and permanently connected to a creator, a collection, and its own digital signature.  I can copy and past a picture of my favorite crypto punk and try to sell in on the NFT marketplace, but any experienced buyer will see it is a fraud right away because it will be listed under a different creator. NFTs are set up to protect both the buyer and the seller (and the creator when it is resold).

If you are on the fence about this, go to Open Sea and browse around. There are some other great markets as well. I hear a lot of good things about the WAX blockchain. If you have an account (or set one up), show me some love and give me a few hearts in either my Crypted collection or my ArtLynx collection. I am beginning to get a bit of traction. I have a plan and I am in it for the long haul. I think this will lead to success. I am actually giving a couple of NFTs away this month too. I would love nothing more than to give one to one of my publish0x friends. But right now, I am having even more fun collecting and hodling or reselling.

When you do first go to Open Sea, you will be asked to connect a wallet. I am using Metamask, but there are other options.

So, basically, I love NFTs because of the supportive community, learning about digital art, and the opportunity to make a profit. Enjoy, and as always, buy, sell, and invest at your own risk. My pinned Twitter post will tell you how you can win an NFT.

The Lynx

www.cryptolynx.co

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The Lynx
The Lynx

A musician, artist, writer, hiker, gamer, avid reader, and NFT creator. I am a person always seeking for new ideas. My name "Lynx' goes back to a nickname in college. I have an online support group for those suffering with grief: www.lifelynx.net.


Crypto Lynx
Crypto Lynx

This blog will inform and entertain. From the perspective of a professional writer and educator with many hobbies, I take a common sense approach to sharing advice and information. I am not a professional trader; therefore, always buy, sell, and trade at your own risk. The information in this blog will be well-researched and factual to the best of my knowledge. Yet, what you do with this information is your decision. www.cryptolynx.co https://twitter.com/ArtLynx1

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